Najib believed Saudi govt owned offshore company, says witness
Published on: Saturday, April 27, 2024
By: Bernama
Najib Razak is on trial for abuse of power and money laundering involving RM2.28 billion in 1MDB funds that was deposited into his AmBank accounts between 2011 and 2014. (Bernama pic)
Kuala Lumpur: The High Court heard today that Najib Razak believed the shell company, Blackstone Asia Real Estate Partners, was either controlled or owned by the government of Saudi Arabia. Blackstone is the offshore company that received millions in funds from 1MDB which subsequently flowed into the former prime minister’s personal bank account.
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Malaysian Anti-Corruption Commission (MACC) investigating officer Nur Aida Arifin, 37, said Najib informed the anti-graft agency of the matter when his statement was recorded under Section 23 of the MACC Act 2009. The 49th prosecution witness was responding to a question by Najib’s lawyer, Wan Azwan Aiman Wan Fakhruddin, regarding the transactions between Blackstone and Najib’s personal account ending with the numbers 9694. Wan Azwan Aiman: You agree with me that when the MACC officer took a statement from Najib, he said he believed Blackstone was owned or controlled by the late King Abdullah Abdulaziz Al Saud and the government of Saudi Arabia? Nur Aida: Yes, that’s right.
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For the record, Blackstone is a company controlled by fugitive businessman Low Taek Jho, or Jho Low, through his associate Tan Kim Loong, otherwise known as Eric Tan, who is also a fugitive. Wan Azwan Aiman: You agree that, during the recording of the statement by MACC, Najib was never shown any document that Eric Tan was a beneficiary of Blackstone?
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Nur Aida: Agree. The witness also agreed that Najib had never instructed Tan to transfer RM90,899,927.30 into his personal bank account in 2012, and she also agreed that MACC did not take any statement from Tan, pertaining to the transaction. Reports indicate that Jho Low established Blackstone Asia Real Estate Partners, a shell company bearing a resemblance in name to the legitimate real estate private equity firm, Blackstone Real Estate. He deliberately employed this naming convention for offshore shell companies under his control to mimic reputable entities as part of his scheme to siphon millions of dollars from 1MDB. Najib, 70, faces four charges of using his position at the time to obtain bribes totaling RM2.3 billion from 1MDB funds and 21 charges of money laundering involving the same amount. The hearing before Justice Collin Lawrence Sequerah continues on Tuesday.
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